ORBCOMM Inc. (NASDAQ:ORBC) has received an average recommendation of "Buy" from the seven research firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $255.67.
Several equities analysts have commented on ORBC shares. BidaskClub raised shares of ORBCOMM from a "hold" rating to a "buy" rating in a research report on Saturday, October 31st. Canaccord Genuity lifted their target price on shares of ORBCOMM from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Thursday, October 29th. ValuEngine cut shares of ORBCOMM from a "buy" rating to a "hold" rating in a research report on Monday, November 2nd. Roth Capital lifted their target price on shares of ORBCOMM from $7.00 to $750.00 in a research report on Thursday, July 30th. Finally, Raymond James lifted their target price on shares of ORBCOMM to $8.00 and gave the stock a "strong-buy" rating in a research report on Thursday, October 29th.
Several large investors have recently bought and sold shares of ORBC. Bank of Montreal Can grew its stake in ORBCOMM by 749.0% in the 2nd quarter. Bank of Montreal Can now owns 9,254 shares of the technology company's stock valued at $33,000 after buying an additional 8,164 shares in the last quarter. Royal Bank of Canada grew its stake in ORBCOMM by 510,933.3% in the 1st quarter. Royal Bank of Canada now owns 15,331 shares of the technology company's stock valued at $37,000 after buying an additional 15,328 shares in the last quarter. Meridian Wealth Advisors LLC purchased a new position in ORBCOMM in the 3rd quarter valued at approximately $37,000. ProShare Advisors LLC purchased a new position in ORBCOMM in the 2nd quarter valued at approximately $39,000. Finally, Stone Ridge Asset Management LLC purchased a new position in ORBCOMM in the 2nd quarter valued at approximately $43,000. 68.28% of the stock is currently owned by institutional investors.
Shares of ORBCOMM stock opened at $6.23 on Friday. ORBCOMM has a 1-year low of $1.24 and a 1-year high of $6.23. The company has a market cap of $486.03 million, a P/E ratio of -23.96 and a beta of 1.20. The company has a current ratio of 3.28, a quick ratio of 2.53 and a debt-to-equity ratio of 1.10. The business has a 50-day moving average price of $4.46 and a two-hundred day moving average price of $3.85.
ORBCOMM (NASDAQ:ORBC) last posted its earnings results on Wednesday, October 28th. The technology company reported ($0.07) EPS for the quarter, topping the Thomson Reuters' consensus estimate of ($0.10) by $0.03. ORBCOMM had a negative net margin of 7.71% and a negative return on equity of 8.66%. Equities research analysts forecast that ORBCOMM will post -0.35 EPS for the current fiscal year.
ORBCOMM Company Profile
ORBCOMM Inc provides Internet of Things solutions in the United States, South America, Japan, Europe, and internationally. The company offers network connectivity, devices, device management, and Web reporting applications that are designed to track, monitor, control, and enhance security for various assets, such as trailers, trucks, rail cars, sea containers, power generators, fluid tanks, marine vessels, diesel or electric powered generators, oil and gas wells, pipeline monitoring equipment, irrigation control systems, and utility meters in transportation and supply chain, heavy equipment, fixed asset monitoring, and maritime industries, as well as for governments.
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